Page 4 Advertisements Column 1

Thames Star, Volume XII, Issue 4049, 20 December 1881, Page 4

Prospectus fTHAMES VALLEY AND KOTOX RUA BAIL WAY COMPANY (LIMITED). Nominal Capital, £400,000, in 400,000 Shakes of £1 each. Provisional Dibectoes : Hon. James Williamson, Chairman. J. L. Campbell, Esq., M.D. F. D. Rich, Esq. Wm. Crush Daldy,Esq. E. F. Boche, Esq. Jas.McCosh Clark, Esq. Thos. Peacock, Esq. Robert Graham, Esq. is. B. Walker, Esq. James Dilworth, Esq. Wm. Aitketi, Esq. George Holdship, Keg. Nga Huruhuru Joseph Howard, Esq. Petera Pukuatua John Wilson, Esq. Henero Pukualua Thos. Morrin, Esq. Eotohiko Haupapa Wm.lnnes Taylor, Eeq. W. Maibi Te Rangikaheke O. J. Stone, Eeq. Arekatera Te Wera A.W.F.Halcombe,Esq.Era Paimoi * BANKBBS: ■ Bank of New Zealand. Solicixoes: Moms Jackson and Russell, Fort street, Auckland. Enoinbee : J. Stewart, Esq., M. Inst. C.E., lato District Engineer. Interim SBCRETAitr: Jae. Stewart, Esq., O.E. The proposed railway will be about seventyfour mileß in length, aDd commences at a point on the Hamilton-Thames Bailway, near the town of Morrinsville. From this point it funs southward through the centre of the great valley of the Upper Thames, by a very easy route, for a distance of thirty-five miles j it then mounts to the wooded plateau which divides the Upper Thames and Tauranga districts} from this it descends, by an easy route, to its terminus at the town of Ohinemutu, making a further distance of thirtynine miles. This completes an unbroken chain of ?railw§y communication between the city of Auckland and the Hot Lake district, which is the central point of attraction for tourists to New Zealand.

The coßfc of the line has been estimated— after exploration—by Jas. Stewart, Eeq, late District Engineer, to be £2000 per milo for the first section of thirty-five miles; of the remain^leri twenty-four miles will cost £3000 per mile,'and the remaining fifteen miles, about £4600 per mile; making a total cost for construction (of the class of the Government railways, and exclusive of rolling stocks of £209|500. The cost of buildings and rolling* stock is estimated at £38,000, making a total cost of £247,500. It is proposed to construct the Railway in two sections ; the first section of thirty-eight miles under the provisions of "The District Railway* Act, 1877," by which, on approval by the Government, the Colonial revenue is security for interest on the cost of construction and equipment, not exceeding 2 percent., and the neighbouring lands (rated in proportion to the benefits derivable from the construction of the line) are liable for interest not exceeding,* further five per cent., thus giving » certain interest of 7 per cent, on the invastment, even if the line itself only pays working expenses. The majority of land holders abutting on this section have exprested their willingness that their properties shall be brought under the operation of " The District Railways Act, and the Amendment Act, 1878." For the construction of the Second section, passing, as it does mainly through native lands, wlich it is not possible to bring under " The District Railways Acts," it is proposed to work, if possible, under the 11 Railways Construction and Land Act, 1881." By this Act, the Colonial Government is empowered to contract with a Company for the construction of this Railway, among others, and to grant such lands as are available as an endowment. In this case only 28,000 acres are available, situated in the Patetere Country. This would not be a sufficient endowment, without rating powers, to warrant the construction of this section of the line, but the native proprietors have, in addition, agreed to give a considerable area of laud to the Company. It is also proposed that the Company should acquire, by purchase, a further portion of . native lands adjacent to the line, which may be expected to be largely increased in value by its construction; and with this view, the Capital of the Company has been fixed at a sum sufficient to include such purchases. By this means, it is hoped the construction of the second section may be undertaken almost simultaneously with the first. The prospeots of immediate and very considerable traffic on the line are as good, or better, than can be shown on any new line in New Zealand. The rapid strides made during the last few years in the Upper Thames and Waikato districts show that the country has a power of production and of supporting a large population in proportion to its area—equal to almost any other part of t^e colony. The projected railway will open up an area of from 1,500.000 to 2,000,000 of acres of atailable land, a large portion ready for immediate occupation, but at present wholly unoccupied, owing partly to the want of means of communication, and partly to the fact that a portion of tins territory has but recently been acquired from the native owners. The settle ment of this extensive area must necessarily, for some years to come, create a very large import traffic, and year by year, as settlement progresses, the export traffic of grain, stock, and other produce must also increase to-very large dimensions. But, independently of the ordinary sources of supply towards a railway traffic which agricultural and pastoral settlement of the country affords, there are special reasons 'which justify the expectation of an unusually rapid development of a varied, extensive, and paying business on this line, It is now generally known that the purchasers of tho lands known as - tho Patetere District are taking active steps towards, the immediate colonisation, by comparatively small holders, of the whole of the lands they have acquired, or are acquiring, through the agency of a powerful company in England. The importations consequent on the introduction of a large population caanot fail to be very considerable during the first yeara of their settlement. Again, the line in its course to Ohihemutu^ taps a valuable forest of magnificent timber, from which—as soon as the line is completed so far —the whole of the Upper Thames and Waikato districts will undoubtedly draw their supplies of timber for house building, fencing, and fuel; and last, but certainly not least, the large and ever increasing stream of tourißts visiting New Zealand .from all parts of the world, attracted by the wonders of Ohinemutu and Rotomahana, will certainly prefer to use this line of railway, which will convey them easily in one short day from the City of Auckland to the Hot Springs, by an easy and most interesting route, thus giving to the line the exceptional advantage of a large passenger traffic at once, quite irrespective of the ordinary passenger traffic of the country. It may also be pointed out that for a distance of fully forty miles the line proposed must, at a future and no far distant da' c, form part of the main line connecting Auckland with. Napier and Wellington, through the interior of the island. ' Regarding the traffic wbioh may be expected, a comparison may be made with the existing line in Auckland. Seeing tHaton these Hues there are many miles of uoprodue-